INSANE: Senate Bill’s Marginal Rates Could Top 100% for Some

That means a business owner’s next $100 in earnings, under certain circumstances, would require paying more than $100 in additional federal and state taxes.

According to WSJ, the possible marginal tax rate of more than 100% results from the combination of tax policies designed to provide benefits to businesses and families but then deny them to the richest people. As income climbs and those breaks phase out, each dollar of income faces regular tax rates and a hidden marginal rate on top of that, in the form of vanishing tax breaks. That structure, if maintained in a final law, would create some of the disincentives to working and to earning business profit.

Of course, this tax structural problem will be removed in reconciliation but the point is that when it comes to this tax bill, the devil is in the details--and no one fully understands all the details.

Keep this incident in mind when you hear any media outlet discussing just how the tax bill will impact taxpayers. The truth is that they don't know---and that any tax details aimed at the middle class that are not widely understood will likley result in higher taxes for the middle class.

"Of course, this tax structural problem will be removed in reconciliation but the point is that when it comes to this tax bill, the devil is in the details--and no one fully understands all the details."

I hate it when Republicans take steps that remind me of the Democrats passing Obamacare.